CarTrade Tech Ltd. (CARTRADE) AI Stock Analysis

• Market Cap: ₹126.82B
• Dividend Yield: N/A
• Average Volume (3M): 72.84K
• Price to Earnings (P/E): 63.0
• Beta (1Y): 0.84
• Revenue Growth: 22.95%
• EPS Growth: 284.54%
• Country: IN
• Employees: 1,010
• Sector: Services
• Sector Strength: N/A
• Industry: Auto - Dealerships
• EPS (TTM): 11.55
• Shares Outstanding: 47,842,934
• 10 Day Avg. Volume: 12,597
• 30 Day Avg. Volume: 72,842
• PEG Ratio: 0.82
• Price to Book (P/B): 3.67
• Price to Sales (P/S): 12.72
• P/FCF Ratio: 49.24
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 67 Neutral
• Price Target: ₹2,880.00 ▲(16.89% Upside)

CarTrade Tech Ltd. shows strong financial performance with robust revenue growth and profitability, contributing significantly to the overall score. Technical analysis indicates bullish momentum, though caution is advised due to overbought signals. The high P/E ratio suggests potential overvaluation, impacting the overall score negatively. The absence of earnings call data and corporate events means these factors do not influence the score.

Positive Factors

Revenue & Profitability Growth

Sustained revenue growth and expanding gross/net margins indicate lasting unit economics improvement and pricing power in its marketplace model. This supports reinvestment in product, marketing, and tech, enabling scalable profitability over the next several quarters.

Balance Sheet Strength

A low debt-to-equity profile and healthy equity ratio provide financial flexibility to invest in growth, withstand cyclical auto-sector shocks, and pursue strategic initiatives or M&A without immediate refinancing pressure, supporting durable resilience.

Cash Flow Generation

Robust operating cash generation and rising free cash flow underpin self-funding for product development, dealer tools, and marketing. Strong FCF reduces reliance on external capital, improving long-term optionality and ability to sustain investments.

Negative Factors

High Valuation Vulnerability

A very high P/E elevates expectations for continued rapid growth; any slowdown in user growth, lead monetization, or transaction volumes could disproportionately hurt investor returns and constrain strategic flexibility over time.

Asset Utilization Weakness

Suboptimal asset utilization implies capital is not yet fully driving revenue or returns. Without efficiency improvements, incremental growth may require more capital, pressuring ROIC and limiting the company's ability to scale margins sustainably.

Dealer/OEM Revenue Concentration

Heavy reliance on dealer and OEM payments ties revenue to dealer budgets and OEM marketing cycles. This structural concentration increases sensitivity to auto-industry downturns and dealer spending shifts, which can compress revenues and pricing power.

CarTrade Tech Ltd. Business Overview & Revenue Model

Company Description

CarTrade Tech Limited operates a multi-channel online automotive platform to buy and sell new and used vehicles. The company offers new car OEM solutions that provides OEMs with consumer insights and data-driven solutions for building their digital marketing strategies; new car dealer solutions, which offers customers content and research tools, such as car reviews, on road prices, car specifications, car images, car finance offers, etc.; used car dealer solutions to buy and sell their used cars; and technology solutions for OEMs and dealers, including dealer management systems and auto finance solutions. It also provides new two-wheeler OEM and dealer solutions; online and offline auctioning of vehicles comprising cars, bikes, trucks, farm equipment and construction equipment; inspection and valuation services for banks and insurance companies; and technology solutions to OEMs, banks, NBFCs, insurance companies, leasing companies, fleet owners, etc. to inspect and valuate their vehicles. The company offers its services under the CarWale, BikeWale, CarTrade, Shriram Automall, and Adroit Auto brands. CarTrade Tech Limited was incorporated in 2000 and is based in Navi Mumbai, India.

How the Company Makes Money

CarTrade generates revenue through several key streams: transaction fees from vehicle sales on its platform, subscription fees from dealers for premium listings and access to advanced tools, and advertising revenues from automotive brands and related businesses. Additionally, the company may earn income from data services and analytics provided to manufacturers, financial institutions, and other industry players. Strategic partnerships with financial institutions for vehicle financing and collaborations with car manufacturers further enhance its revenue opportunities.

CarTrade Tech Ltd. Financial Statement Overview

Summary

CarTrade Tech Ltd. presents a strong financial position with impressive growth in revenue and profitability. The balance sheet shows financial stability with low leverage and a high equity ratio, while cash flows are robust, ensuring liquidity. The company is well-positioned in its industry with a strong financial foundation, though monitoring asset efficiency and further optimizing cash use could enhance performance.

Income Statement

CarTrade Tech Ltd. has demonstrated strong revenue growth, with a significant increase from the previous year. The gross profit margin and net profit margin have improved, indicating better cost management and profitability. The EBIT and EBITDA margins also reflect positive trends, showing enhanced operational efficiency. Overall, the company has shown robust growth and profitability in the latest period.

Balance Sheet

The balance sheet remains strong with a healthy equity ratio, indicating a solid capitalization structure. The debt-to-equity ratio is low, suggesting conservative leverage use. The return on equity has improved, reflecting enhanced profitability for shareholders. Overall, the balance sheet reflects stability and prudent financial management, though there is room for optimizing asset utilization.

Cash Flow

CarTrade Tech Ltd. has shown excellent free cash flow growth, supported by strong operating cash flows. The operating cash flow to net income ratio indicates effective cash generation from operations. The free cash flow to net income ratio also supports a healthy cash position. Overall, the cash flow statements highlight strong liquidity and efficient cash management.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	6.73B	6.41B	4.90B	3.64B	3.13B	2.50B
Gross Profit	3.81B	3.53B	2.41B	1.49B	-304.39M	1.16B
EBITDA	1.61B	1.23B	570.61M	174.07M	-1.49B	285.26M
Net Income	1.55B	1.35B	143.03M	339.98M	-1.32B	924.99M
Balance Sheet
Total Assets	0.00	27.05B	25.10B	23.43B	22.81B	19.30B
Cash, Cash Equivalents and Short-Term Investments	6.83B	6.83B	6.74B	10.27B	9.06B	6.54B
Total Debt	0.00	1.31B	1.12B	864.28M	774.55M	545.51M
Total Liabilities	-23.27B	3.79B	3.53B	2.21B	2.06B	1.68B
Stockholders Equity	23.27B	22.21B	20.70B	20.43B	19.79B	16.81B
Cash Flow
Free Cash Flow	0.00	1.66B	129.62M	411.05M	573.84M	297.60M
Operating Cash Flow	0.00	1.71B	158.73M	482.16M	631.57M	352.04M
Investing Cash Flow	0.00	-1.38B	-1.10B	-165.51M	-2.81B	-3.41B
Financing Cash Flow	0.00	-268.17M	-329.25M	-391.22M	2.29B	3.08B

CarTrade Tech Ltd. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 2463.80
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:CARTRADE, the sentiment is Positive. The current price of 2463.8 is below the 20-day moving average (MA) of 2653.97, below the 50-day MA of 2789.63, and above the 200-day MA of 2294.65, indicating a neutral trend. The MACD of -81.83 indicates Positive momentum. The RSI at 49.91 is Neutral, neither overbought nor oversold. The STOCH value of 55.35 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:CARTRADE.

CarTrade Tech Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
JUSTDIAL	73 Outperform	₹56.72B	10.23	―	―	6.97%	12.91%
TCI	70 Outperform	₹81.15B	18.66	―	0.94%	9.97%	16.28%
CARTRADE	67 Neutral	₹126.82B	62.96	―	―	22.95%	284.54%
WELENT	63 Neutral	₹65.71B	18.77	―	0.58%	9.11%	16.30%
IONEXCHANG	60 Neutral	₹52.02B	23.12	―	0.40%	11.56%	-2.78%
Sector *	55 Neutral	$13.29B	17.42	10.03%	0.93%	7.13%	-12.93%
MMTC	50 Neutral	₹97.63B	44.19	―	―	-17.88%	7.14%

CarTrade Tech Ltd. Corporate Events

CarTrade Tech Board Clears Q3 FY26 Results and CFO Pay Proposal

CarTrade Tech’s board has approved the company’s unaudited standalone and consolidated financial results for the third quarter and nine months ended 31 December 2025, with the figures to be made available on its website and shared with stock exchanges, marking a key regulatory and disclosure milestone for the listed auto-tech platform. In the same meeting, the board also cleared a postal ballot process to seek shareholder approval for an increase in remuneration for Executive Director and CFO Aneesha Bhandary, a move that underscores ongoing governance and leadership compensation decisions as the company navigates its growth and compliance obligations.

CarTrade Tech Delivers Record Q3 Revenue and Margin Surge on Broad-Based Growth

CarTrade Tech Limited reported its strongest quarter to date for the three months ended 31 December 2025, posting record consolidated revenue of ₹228.37 crore, up 18% year-on-year, and a 56% surge in EBITDA to ₹78.25 crore, lifting quarterly EBITDA margins to an all-time high of 37%. Profit after tax rose 35% to ₹61.52 crore (49% growth excluding the impact of the New Labour Code), while nine-month FY26 revenue climbed 24% to ₹649.02 crore and EBITDA jumped 77% to ₹185.35 crore with a margin of 32%. All key segments contributed to the performance: the Consumer Group delivered 27% revenue growth and a 43% EBITDA margin, the remarketing business grew revenue 12% with a 68% jump in PAT and a 30% EBITDA margin, and OLX India saw revenue rise 18% with EBITDA up 70% and a 37% margin, underscoring broad-based profitability improvements across the platform.

CarTrade Tech Releases Q3 FY26 Investor Presentation on Unaudited Results

CarTrade Tech Limited has shared an investor presentation detailing its unaudited financial results for the third quarter and nine-month period ended December 31, 2025, in line with disclosure requirements under SEBI’s listing regulations. The presentation, now available on the company’s website, is intended to update shareholders and market participants on its recent financial performance, offering greater transparency into its operations and serving as a key reference for investors tracking the company’s business trajectory.

CarTrade Tech Grants 75,000 Stock Options Under ESOP 2021 (I)

CarTrade Tech Ltd. has granted 75,000 stock options to an eligible employee, including a relative of a director, under its Employee Stock Option Plan 2021 (I), in line with SEBI’s share-based employee benefit regulations. The options, which convert into an equal number of equity shares and are priced at the prevailing market average without discount, will vest in four equal annual tranches over four years, a structure aimed at incentivising long-term employee retention and aligning key personnel interests with shareholder value, signalling continued use of equity-based compensation in the company’s talent strategy.

CarTrade Tech Ltd. Halts Consolidation Plans, Focuses on Core Growth

CarTrade Tech Ltd. has announced that it will not proceed with a previously considered consolidation with Girnar Software Private Limited in the automotive classifieds sector. The company remains committed to strengthening its existing business portfolio and pursuing strategic growth opportunities, focusing on product and technology innovation across its platforms.